Unilever Nepal profit drops by 4.4% due to fall in turnover during Dashain

ShareSansar, November 17:

Unilever Nepal Limited has reported that its net profit in the first quarter of the current fiscal year 2070/71 has dropped by 4.4 percent.

According to the unaudited first quarterly report the multinational company has published today, it earned a net profit of Rs 21.88 crore in the first quarter of the current fiscal year compared to Rs 22.88 in the corresponding quarter.

The drop in the net profit is due to decline in its sales turnover, which dropped by 9.7 percent -- from Rs 1.8 arba to Rs 1.06 arba in the first quarter.

The company has stated that “this is on account of less number of working days in the current quarter versus the same period in the previous year on account of Dashain holidays.”

Its current reserve and surplus is at Rs 72.35 crore, up from Rs 62.79 crore in the corresponding quarter.

Its liquidity ratio currently stands at 0.97 compared to 1.11 in the corresponding quarter.

Its EPS stands at Rs 238 and net worth Rs 886.